Expertise: Financial Services

Reporting Timelines for Indonesia’s Fintech Innovators: New Deadlines Under OJK Circular Letter 4/2025

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To align with the implementation of OJK Regulation No. 3 of 2024 on the Implementation of Technological Innovations in the Financial Sector (Inovasi Teknologi Sektor Keuangan or “ITSK”), Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued Circular Letter No. 4/SEOJK.07/2025 regarding the Reporting Obligations of Licensed ITSK Providers (“OJK CL 4/2025”). OJK CL … Reporting Timelines for Indonesia’s Fintech Innovators: New Deadlines Under OJK Circular Letter 4/2025

SSEK Founding Partner Takes Leadership Role in Indonesia Financial Law Association

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SSEK Law Firm founding partner Ira A. Eddymurthy has been appointed to the Honorary Council of Indonesia’s Financial Sector Legal Consultants Association (Himpunan Konsultan Hukum Sektor Keuangan or HKHSK)  for the 2024-2027 term. This prestigious appointment reflects Ira’s expertise and dedication to upholding the highest standards of professionalism in Indonesia’s financial legal sector. The HKHSK … SSEK Founding Partner Takes Leadership Role in Indonesia Financial Law Association

Strengthening Indonesia’s Financial Sector: Key Impacts of OJK Regulation No. 40/2024 on IT-Based Co-Funding Services

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On December 24, 2024, Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued a regulation aimed at improving the oversight and operational framework for peer-to-peer (“P2P”) lending platforms in the country (“P2P Organizers”). This new regulation is OJK Regulation No. 40 of 2024 regarding Information Technology-Based Co-Funding Services (“OJK Reg. 40/2024”), which supersedes OJK … Strengthening Indonesia’s Financial Sector: Key Impacts of OJK Regulation No. 40/2024 on IT-Based Co-Funding Services

Deadline Looming as New BI Regulation Requires Payment System Providers in Indonesia to Allocate Human Resources Development Funds

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On July 9, 2024, Indonesia’s central bank, Bank Indonesia (“BI”), issued a regulation setting out a framework to harmonize the development and implementation of competency standards in the field of payment systems. BI Regulation No. 5 of 2024 regarding the Standardization of Competencies in the Payment Systems Field (Standardisasi Kompetensi di Bidang Sistem Pembayaran or … Deadline Looming as New BI Regulation Requires Payment System Providers in Indonesia to Allocate Human Resources Development Funds

Fintech – Indonesia

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SSEK Law Firm partner Winnie Yamashita Rolindrawan and associate Pasha Umar Hubeis have contributed the Indonesia chapter to the Lexology Panoramic: Fintech 2025 practice guide. Fintech – Indonesia provides local insight into fintech innovation and government/regulatory support; regulatory bodies and regulated activities; cross-border regulation; regulation of sales and marketing and of changes of control; financial … Fintech – Indonesia

New OJK Regulation on Technological Innovation in Indonesia’s Financial Sector

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To help regulate Technological Innovations in the Financial Sector (Inovasi Teknologi Sektor Keuangan or “ITSK”), Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) recently issued OJK Regulation No. 3 of 2024 dated February 16, 2024, regarding the Implementation of ITSK (“OJK Reg. 3/2024”). This is an implementing regulation for Law No. 4 of 2023 … New OJK Regulation on Technological Innovation in Indonesia’s Financial Sector

Regulation of Artificial Intelligence in Indonesia

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The introduction and rise of artificial intelligence (“AI”) in different industries and sectors, including the financial services sector and the telecommunications industry, is affecting almost every aspect of how those industries and sectors operate. Despite the many advantages of AI, the transition to its increased carries potential risks if not accompanied by appropriate laws and … Regulation of Artificial Intelligence in Indonesia

Indonesia‚ OJK Introduces New Regulation on IT-Based Co-Financing Services

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Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or OJK) has issued a new regulation on information technology-based co-financing services, which include peer-to-peer (P2P) lending. This new regulation seeks to improve the previous regulation on the peer-to-peer lending sector, OJK Regulation No. 77 /POJK.01/2016 regarding P2P Lending Services (OJK Reg. 77/2016), and support the growth and … Indonesia‚ OJK Introduces New Regulation on IT-Based Co-Financing Services

Fintech in Indonesia – AI and Distributed Ledger Technology

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Presently, there is no specific law or regulation in Indonesia that addresses the use of artificial intelligence, including robo-advice. However, artificial intelligence is mentioned in Financial Services Authority (OJK) Regulation No. 13/POJK.02/2018, dated 16 August 2018, regarding Digital Financial Innovation in the Financial Services Sector as one of the examples of digital financial innovation in … Fintech in Indonesia – AI and Distributed Ledger Technology